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Property Settlements
G&S Law Group are here to assist in your Family Law matter, in the unfortunate event of divorce or separation between married couples. The common dispute in Family Law is how to divide the Matrimonial assets (property) and debts between divorcing spouses. G&S Law Group can assist in the various ways this can be done:
1. Financial Agreement on how your property should be divided without any Family Court or Federal Circuit Court involvement.2. If you cannot reach a Financial Agreement, applying to the Family Court or Federal Circuit Court for financial orders, including: a. Financial orders relating to the division of Matrimonial property; and b.Payment of spouse or de facto partner maintenance.
G&S Law Group can confirm the division of Matrimonial assets and debts is set out in the Family Law Act 1975, which provides what the Family Court or Federal Circuit Court considers when deciding Financial disputes after the breakdown of a Marriage or Relationship. There is no formula used to divide your Matrimonial Property. The decision of the Court is made after a consideration of all evidence and what is just and equitable based on the facts and circumstances of your case. G&S Law Group notes the considerations the Family Court or Federal Circuit Court will take into account, include:
1. Matrimonial Assets and debts and what they are worth;2. Direct Financial contributions by each Spouse to the marriage; 3. Spouses wage and salary earnings;4. Indirect financial contributions to the marriage i.e. gifts and inheritances from families;5. Non-financial contributions to the marriage i.e. caring for children and homemaking, and future requirements (age, health, financial resources, care of children and ability to earn).
G&S Law Group notes each Matrimonial Property and financial settlement will probably be different from other Married Couples, you may have heard about.